Firms warned over diversity vagueness amid FCA clamp down

Deadline for first reporting on progress is next month

Mark Battersby
clock • 3 min read

The first annual reports to cover new Financial Conduct Authority (FCA) diversity and inclusion (D&I) reporting requirements must hit targets or contain "clear and meaningful explanation' of why targets were missed.

In a briefing note on 24 March, international law firm Pinsent Masons issued a reminder of the targets that were introduced last year and the April deadline for the first annual reports to take account of new obligations. The rules require that 40% of firm's board are women, that at least one board member is from a minority ethnic background, and that a woman holds at least one of the firm's most senior positions: chair; chief executive; chief financial officer or senior independent director. The FCA has published a reminder of its expectations of companies when they have failed to me...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

London's millionaire exodus: Advisers will 'undeniably' see wealthy clients move abroad

London's millionaire exodus: Advisers will 'undeniably' see wealthy clients move abroad

Labour's budget ‘main reason' for latest UK exits

Isabel Baxter
clock 17 April 2025 • 6 min read
UK inflation drops to 2.6% in March amid warnings of further price rises

UK inflation drops to 2.6% in March amid warnings of further price rises

Down two percentage points

Sorin Dojan
clock 16 April 2025 • 2 min read
Rewriting the rules of engagement: Innovating for the future of wealth and financial advice

Rewriting the rules of engagement: Innovating for the future of wealth and financial advice

‘Hyper-personalisation and fintech disruptors are reshaping financial advice’

Sneha Shah
clock 15 April 2025 • 3 min read